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Life comes full of unexpected events- both good and bad. With Life Insurance you can ensure your family’s financial security after you pass away. You should consider having a life insurance policy if:
- you are married
- have children
- have a mortgage or any other loans that would need to be paid off upon your death.
- Don’t forget that the average funeral expenses vary greatly from state to state and from year to year, will your family be able to afford the $15,000-$25,000 funeral cost?
What type of Life Insurance should I get? There are many different types of insurance products but the right one for you depends on your own personal situation. Contact one (link here for contact) of our Financial Representatives for a personal consultation.
- Disability Income Insurance- How would you pay for your living expenses if you became unable to work? A disability income insurance policy insures the beneficiary's earned income against the risk that disability will make working (and therefore earning) impossible.
- Long Term Care Insurance- Helps provide for the cost of long-term care beyond a predetermined period. Long-term care insurance covers care generally not covered by health insurance, Medicare, or Medicaid. Individuals who require long-term care are generally not sick in the traditional sense, but instead, are unable to perform the basic activities of daily living (ADLs) such as dressing, bathing, eating, toileting, continence, transferring (getting in and out of a bed or chair), and walking. Remember that age is not a determining factor in needing long-term care.
Personal property such as your home, cars, boats, and other valuables would be hard to replace in case of a total loss. These policies renew every six or twelve months and should be reviewed to ensure you are covered for what you need. Contact one (link here for contact) of our Property and Casualty Representatives for a personal consultation.
- Home Insurance- A type of property insurance that covers private homes. Mortgage lenders always require that the buyer purchase homeowners insurance as a condition of the loan, in order to protect the bank if the home were to be destroyed. It is an insurance policy that combines various personal protections, which can include losses occurring to one's home, its contents, loss of its use, or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home. Typically, claims due to earthquakes, floods, "Acts of God", or war (whose definition typically includes a nuclear explosion from any source) are excluded. Special insurance can be purchased for these possibilities, including flood insurance and earthquake insurance.
- Auto Insurance- Its primary use is to provide protection against losses incurred as a result of traffic accidents and against liability that could be incurred in an accident. It is required in the state of Connecticut.
- Renters Insurance- A type of policy that covers the contents inside a rental property. If you rent your home or apartment and you should have renters insurance to protect your valuables.
- Motorcycle Insurance- Its primary use is to provide protection against losses incurred as a result of traffic accidents and against liability that could be incurred in an accident. It is required in the state of Connecticut.
- Umbrella Insurance- Umbrella insurance provides broad insurance beyond traditional home and auto. It provides additional liability coverage above the limits of your homeowner's, auto, and boat insurance policies. Provides coverage for claims that may be excluded by other liability policies including: False arrest, Libel, Slander, Invasion of Privacy, among others.
- Flood Insurance- This policy protects you in case of floods. However, there are many restrictions on what qualifies as flood damage and it may take 30 days before the policy is in effect- don’t wait until a storm is approaching.
Saving money now is the key to being able to spend your golden years with a peace of mind.